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|Articles - December 2011|
|Tuesday, November 15, 2011|
By Peter Beland
Despite a housing market that is still depressed, one housing development in Bend — one of the hardest-hit cities in the housing-led recession — seems to be bouncing back. As of October, 21% (about 59) of all 2011 single-family new home construction permits in the city were issued for Northwest Crossing, according to city data, the most for any single development for single-family homes.
The 486-acre mixed-use development currently has around 600 housing units built, roughly half its capacity. It has seen continuous growth in the past three years, according to the company.
Between 2000 and 2010, Deschutes County had among the highest population growth rates in the country at 36.7%. But it also saw a 78.6% increase in vacant homes in that same time period. During the recession, home values were cut in half and unemployment was well over 16%. “I haven’t seen a subdivision application in years,” says Bend senior planner Heidi Kennedy.
The 10-year-old Northwest Crossing bucks that downward trend with its appeal to high-end consumers and an emphasis on sustainable, urban living. The median home price at Northwest Crossing is $372,000 versus Bend’s Q3 2009 median home price of $212,000.
With more than a mile and a half of tree-lined trails that interconnect with businesses located on the first floors of sustainably built homes, to light industrial parks next to greenways, the development has attracted consumers from across the country looking for a place in which to live, work and play. Northwest Crossing general manager David Ford said he and his colleagues spent years consulting with mixed-use designers such as Portland-based Walker Macy before settling on the final layout for the community.
A decade ago, Bend did not even have a zoning code for what property developer West Bend Property Co. had in mind: high-density and mixed-use. “It has a diversity of design you don’t see in other subdivisions,” says Kennedy.
A small fraction of Northwest Crossing is low-income housing. To date, the development includes Discovery Park Lodge senior affordable housing project as well as three low-income housing units, with another on the way.
Bend’s beauty attracted many homeowners in the past and still does in the case of Northwest Crossing, even as the region continues to struggle. “I think we’ll continue to see people working on remodels and additions,” says Kennedy. “But it’s spread out and not as frenzied. That’ll be our future for a while.”
Friday, July 10, 2015
BY AMY MILSHTEIN
When gossip crosses the line.
Monday, July 13, 2015
BY SAM BLACKMAN
Storyteller-in-chief with the CEO and co-founder of Elemental Technologies.
Thursday, June 18, 2015
While most categories of commercial real estate have performed well, one of the most robust has been apartment buildings.
Tuesday, June 23, 2015
Oregon’s new marijuana law is expected to lead to a bevy of new business opportunities for the state. And not just for growers. Law firms, HR consultants, energy efficiency companies and many others are expected to benefit from the decriminalization of pot, according to panelists at an Oregon Business breakfast meeting on Tuesday.
Wednesday, July 15, 2015
Oregon's roads are crumbling, and revenues from state and local gas taxes are not sufficient to pay for improvements. We asked readers if the private sector should help fund transportation maintenance and repairs. Research partner CFM Strategic Communications conducted the poll of 366 readers in February.
"I feel private enterprises are capable of operating at a higher efficiency than state government."
"This has been used in Oregon since the mid-1800s. It is not a new financing method. This form of financing may help Oregon close its infrastructure deficit by leveraging funds."
Monday, July 13, 2015
BY KIM MOORE | PHOTOS BY JASON E. KAPLAN
A New York floral and gift business takes on the iconic Harry & David brand.
Tuesday, July 14, 2015
The Big One serves as an allegory for Portland, a city that earns plaudits for lifestyle and amenities but whose infrastructure is, literally, crumbling.
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When Garmin AT needed to consolidate operations for its 550 employees, it scanned its entire corporate map for possible sites.
The technology industry is always in flux. And this rapid rate of change poses challenges to companies ranging from nimble startups aiming to make their mark to established organizations fighting to remain relevant. This is particularly true in the competitive digital display market, where an Oregon company has been at the forefront of nearly every major breakthrough in the last three decades.
A look back at the shifting sands of Portland’s growth and development.
Robert S. Wiggins has joined Lane Powell as a Shareholder in the Corporate/M&A Practice Group. Wiggins is a well-known lawyer, entrepreneur, and investor with more than 30 years of experience leading and advising established and emerging companies in the Pacific Northwest. Wiggins will focus his practice on offering outside general counsel services, including general corporate and board representation, business transactions and capital events.
DEDICATION PARTY: Help the Port of The Dalles celebrate its newest shovel-ready industrial land Friday, July 31, from 1:30 to 4 p.m.